The Balanced Scorecard (BSC) method of Lloyds TSB Bank Essay

The Balanced Scorecard (BSC) method acting of Lloyds TSB Bank - Essay ExampleThe Balanced Scorecard (BSC) method of Lloyds TSB BankThe objective lens of the paper is to describe about the Balanced Scorecard (BSC) framework in relation to its implementation in the Lloyds TSB Bank, headquartered in the UK. The reason for choosing the geological formation is that the company exercisings ratio scorecard method for calculating and managing the surgical process of employees (Lloyds TSB Group plc, 2012). The paper will also attempt to evaluate several aspects of BSC in relation to Lloyds with the purpose to make how the implementation of BSC would help to measure the mathematical process of the bank. Also the paper will aim at identifying the unalike drawbacks relating to BSC. Stating precisely, the determined objectives of the paper are to recognise different aspects of BSC and the major Key Performance Indicators (KPIs) of Lloyds. It will also aim to understand how implementation o f BSC can prove to be beneficial for Lloyds along with identifying its probable limitations for the organisation which will further be used to provide recommendations.The research has been conducted in three phases, i.e. identification of research objectives, collection of data and analysis of the data collected. The method used for conducting the research has been based on a systematic approach. The research attempts to make a conclusion on a gradual procedure. Only thirdhand data i.e. information from internet sources such as company reports, books and academic journals have been used in this paper. In order to calculate and demonstrate the KPIs of Lloyds TSB Bank, MS-Excel coat has been used. It is in this context that BSCs four perspectives, i.e. customer perspective, financial perspective, internal business processes as well as learning and growth perspective and their think KPIs (two from each) will be examined through MS-Excel application. The excel graphs will be produced and demonstrated in order to justify the discussion of KPI. Results or Findings Balance Scorecard and Its Perspectives Generally, organisations use BSC to embrace information regarding monetary measures. In Lloyds, BSC can provide a lucid picture about the performance. It can provide the key factors which drive the performance in the organisation. It is worth mentioning in this regard that there are four general perspectives of BSC which are measured by an organisation while judging the performance (Mooraj & et. al., 1999). The following figure will describe the four perspective of BSC Financial Perspective The financial perspective represents long-term objectives of an organisation. The KPIs of financial perspectives are Sales total It aims at measuring the amount of sales for example, by taking account of the changes in sales revenue over time Market share It aims at measuring the market competency. For example, by comparing the market exposure of the competitors and that of the organisation Return on investment It aims at proper allocation of resources. For example, by version an in-depth understanding to the most profitable sectors